GIFT NIFTY Gaps Down 63 Points Into Session II as European Markets Trade Mixed

GIFT NIFTY Opens Session II Lower

GIFT NIFTY reopened for Session II at 22,652 at 16:35 IST on September 29, gapping down 62.5 points or 0.28% from its Session I close of 22,714.5. The opening candle saw the index touch a low of 22,652 before recovering to close the first five minutes at 22,682.

The session gap reflected cautious sentiment as traders assessed mixed signals from European markets, which had been trading for over three hours by the time GIFT NIFTY resumed. The index has since recovered ground, trading at 22,832.5 as of 19:09 IST, marginally above the previous day's close of 22,830.

European Markets Trade Flat to Marginally Higher

European indices provided muted cues during Monday's mid-session trade. The DAX traded at 25,374.42, down 34.22 points or 0.13%, while the CAC 40 edged up 0.68 points or 0.01% to 8,078.48. The FTSE 100 slipped 10.37 points or 0.10% to 10,684.88, according to live market data at the time of Session II open.

The broader Euro Stoxx 50 index closed the previous session at 6,302.82, down 1.54 points or 0.02% on September 28. The Euronext 100 Index gained 2.03 points or 0.11% to 1,897.36 during Monday's session, reflecting selective strength in European equities.

European markets exhibited a lack of conviction, with Germany's benchmark DAX failing to hold early gains while France's CAC 40 traded near the flatline. London's FTSE 100 faced modest selling pressure, contributing to the mixed regional picture that greeted GIFT NIFTY traders at the Session II open.

Session II Range and Outlook

GIFT NIFTY recovered from its session gap in early Session II trade, climbing 180 points from the 22,652 open to 22,832.5 by 19:09 IST. The day's high of 22,921.5, set during Session I, remains intact as the index consolidates in a 249-point intraday range. Session II runs until 02:45 AM IST on September 30, with European markets expected to close around 21:00-22:00 IST, which could influence late-session volatility.